2 lbs. pitted, peeled and sliced peaches (about eight to nine peaches)
1 lb sugar (2 1/4 cups)
¼ cup lemon juice
3 sprigs basil
Combine peaches, sugar and lemon juice in a nonreactive bowl and stir to combine. Allow to macerate for several hours or overnight.
Place three eight-ounce jars in a canning pot outfitted with a rack and fill with water. Heat over high heat until boiling.
Place several saucers or small plates in the freezer to chill.
Pour fruit and sugar mixture, scraping the sides to into a large, deep saucepan and bring to a boil over high heat, stirring frequently to prevent scorching. Skim off any foam that accumulates.
Turn heat down to medium and cook jam until thickened, about twenty minutes, stirring frequently.
Take the jam off the heat, and test it for doneness using the wrinkle test: remove the saucer from the freezer and place spoonful of jam on it. Return the saucer to the freezer for one minute. Remove the saucer and push the jam with your finger. If it wrinkles, then the jam is set. If not, continue to cook and try the test again after a few minutes.
Place the sprigs of basil in the jam and allow it to infuse for five minutes.
Ladle jam into clean, warm jars, leaving 1/4 inch headspace at the top of the jar. Bubble the jars and wipe the rims with a damp cloth.
Place the lids on the jars and screw on the rings just until you feel resistance.
Process the jars in a boiling water bath for ten minutes. Allow to cool in the water for five minutes before removing.